The process of probating a will depends on a number of factors. However, there are some common steps you can take to help you make the process easier.
The first step in the process is to file documents with the probate court. These may include a petition for probate of will and state-specific forms related to the appointment of an executor or personal representative. This formally begins the probate process and gives everyone involved an opportunity to object.
This includes beneficiaries named in the will and any heirs under state law who inherit if there is no valid will. They are also entitled to a hearing before the judge.
Once the judge approves the will, a letter testamentary is issued. This gives the executor legal standing to act on behalf of the estate, and confirms that the executor is qualified to carry out their duties.
Before the estate can be closed, the executor must submit an accounting to the probate court showing all assets, disbursements of estate money, and proposed distributions to inheritors. This document also explains how the money was spent, and it can help to eliminate a lot of disputes by giving evidence of how and where the assets were used.
Next, the executor must pay debts and expenses of the estate that were legitimately incurred during the deceased person’s lifetime. These may include funeral expenses and debts to credit card businesses and mortgage lenders, among others. The executor or personal representative must then decide whether or not to sell some of the estate’s assets, if necessary, to obtain the funds needed to pay these creditors.
After paying all debts and expenses, the executor or personal representative can then distribute the remaining estate assets to inheritors. These assets can be either cash or real estate, or any other type of asset that has not been designated as a probate asset in the will.
Probate can be a very difficult task, especially for people who are unaccustomed to dealing with the legal system. This is why it is important to have a strong resource for support and guidance right from the start.
Depending on your state, you may be required to hire an attorney to help with the process. This can be quite costly and can be avoided if you have an experienced executor or personal representative.
Another option is to distribute assets through a trust that will pass directly to the designated beneficiaries. These types of arrangements can save a great deal of time and stress in the probate process.
What’s more, trust funds can be orchestrated to automatically pass immediately to the beneficiaries upon the death of the original donor. This is a much simpler and less expensive way to handle the distribution of an estate.
If you are considering the use of a trust, contact an experienced estate planning lawyer who can guide you through the entire probate process and ensure that your wishes are carried out in a timely manner.
